Commentary: Smart policies can put money back into pockets of Ohio families

By JIM RENACCI
U.S. RepresentativePublished: March 8, 2013 4:00AM

If you want proof the administration's economic policies are not working, look no further than American income levels. After posting a small increase in December, the average income level across the country plunged by a full 4 percent in January. Not surprisingly, the savings rate fell to 2.4 percent, the lowest level since November 2007.

It is true a portion of the drop in disposable income and the ability to save is the result of the expiration of the payroll tax cut. However, American incomes also have been hammered by higher gas prices, more expensive grocery and utility bills and rising health insurance premiums.

This president likes to talk about energy production rising under his administration, and energy production on private land is in fact up. However, production on federal lands is way down. Currently, our overall production is barely keeping up with population growth, which is part of why prices are going up.

Look at the XL Pipeline from Canada, our largest trading partner and one of our strongest allies. More than two years later, and following a proposed re-route around sensitive environmental areas, the administration still hasn't approved it or the millions of gallons of oil it would send to American refineries every day. Canada has made it clear it will build a different pipeline to the West Coast and ship the oil to China if we fail to act.

The president's war on coal is raising electricity prices across the country. In a state like Ohio, where we produce more than 80 percent of our electricity from coal, we're feeling it harder than most. Already, several coal fired plants in Ohio have been or will be shuttered in the face of new regulations on the industry.

Thanks in large part to the president's health care law, insurance premiums and costs are continuing to rise for Ohioans. There are 21 new taxes and fees in Obamacare. The latest 10-year estimates have the law taking more than $1 trillion away from American businesses and families and sending it to Washington. Increases in fees assessed to insurance companies will no doubt be passed on to consumers.

Virtually every major initiative this administration as embarked on has raised the cost of living in Ohio. All of that could change if they just reversed course on some of their initiatives. Approve the XL Pipeline and the cheaper, more stable North American oil it will deliver.

Stop attacking the coal industry, which is cleaner, cheaper and more efficient than it has ever been. Repeal Obamacare and replace it with market-based initiatives that will actually drive health care costs down.

These are all viable options, and they will all help grow our economy and put more money in the pockets of Ohio families.

U.S. Rep. Jim Renacci can be contacted via Facebook (facebook.com/repjimrenacci) and Twitter (twitter.com/repjimrenacci) and at his Wadsworth office at 330-334-0040 or his Washington office at 202-225-3876.

Want to leave your comments?

Roadster, please give a reference to your comment "Ohio's coal is the dirtiest in the nation."

dman

March 10, 2013 8:45PM

As usual, Renacci twists the facts to suite his BS story. He mentions that "After posting a small increase in December, the average income level across the country plunged by a full 4 percent in January."... Here are the facts. What he called "a small increase in December" was actually 2.6%. That was called a "huge gain" by Bloomberg news... What he called "plunged by a full 4 percent in January." was actually 3.6%...And what he fails to mention is this, "Personal income soared a monthly 2.6 percent in December, following a 1.0 percent jump in November. The huge gain for December was due to special dividends that were paid by many companies late in the quarter in anticipation of changes in individual income tax rates"... http://bloomberg.econoday.com/byshoweventfull.asp?fid=456065&cust=bloomberg-us&year=2013&lid=0&prev=/byweek.asp#top If you want to know why income isn't higher just look at the corporations with record cash on hand and profits and their non-executive employees not having their pay keep up with inflation. Government has nothing to do with that. It's just greed.

bam

March 10, 2013 7:45AM

What about equalizer's post dman?Isn't that an excellent example of left wing bias?That is what you are looking for right?

Not to mention the blocks that Obama would put up to a new refinery.BTW there are hundreds of pipelines traveling thousands of miles all over the country.Yes occasionally there will be a problem,but just like a plane crash doesn't make flying any more dangerous a pipeline is designed to NOT leak.It's not a good idea to design one that leaks now is it?As for woodie and unequalizer,did you ever think maybe you are on the wrong side?Only a fool would say no so be careful with your rant.(I mean answer.)

justanobserver

March 8, 2013 5:33PM

I believe the concern about building the pipeline across a vast expanse of the country is the potential for leaks, etc. that could cause significant environmental damage if they occur. For an example, see the story about this into the Kalamazoo River http://n.pr/LNSGPN . I believe the operators misinterpreted the warnings from the systems. As I understand it, it is a major undertaking to build and start up a new refinery. I don't believe there have been many or any built in the country for a number of years.

BuzzKillington

March 8, 2013 4:17PM

Big Foreign Oil wants to drag their leaky pipeline to the Gulf because it is easier to sell on the global market from there. America gets no price reduction guarantees.

anonymous_2237

March 8, 2013 4:06PM

I'm not jumping into any argument or name calling, but I thought you might like to read about some amazing research done right here in Ohio with clean coal technology. It is looking very promising and people need to spread the word and make this a high-priority project.
http://www.osu.edu/features/2013/ohio-state-develops-clean-coal-technology.html
I do have a question about the Pipeline. Is the main battle about building a pipeline through the country or about refining the oil at all? Why can't they just pipe it to one of our northern border states and build a refinery there? The cost can't be that much different from the cost of trenching the entire country. The products get trucked all over anyway so does it matter where it starts? This is a real question, so please no snarky responses from anyone- just an answer from someone who actually knows it or can direct me to where I might find it. Thank you!

anonymous_4064

March 8, 2013 3:53PM

Too bad Jimmy can't write a letter telling us what he is getting done,but he can't because he does nothing.

equalizer

March 8, 2013 1:23PM

jwood -ditto. But I think you insulted pond scum - it has a purpose.....

jwood

March 8, 2013 10:48AM

You really are pond scum, bam. Just a little small-town punk with no ability to reason. You're on the wrong side of every argument. EVERY BLANKING ONE! But does that tell you anything? No. What a piece of crap.

bam

March 8, 2013 10:37AM

Again with the misinformation I see Roadster.Some will never see the truth.

roadster

March 8, 2013 9:44AM

Just too many things wrong with this. Ohio's coal is the dirtiest in the nation; power companies fought scrubbers for decades; fracking cretes more natural gas which is cheaper than coal so lowers coals price; Kasick promoted fracking so it's a republican war on coal, then he blocked solar panels in SE Ohio which would have transitioned the area; Canadian gas is headed offshore from Louisiana instead of lowering prices here, the pipeline will actually raise gas prices in the middle of the U.S., net long term jobs are only 2000, and it's still a global warming disaster. Healthcare companies are making record profits, which is made from overcharging everyone, and largely how Renacci made his millions. High rollers CEOs like Renacci make as much as 3000 times what the lowest level worker makes, and they want to lower the minimum wage and end the right to organize.

justanobserver

March 8, 2013 8:56AM

Wow, where to begin. Let's see, I'm glad to see that he at least acknowledges that the elimination of the payroll tax has impacted average citizens. Somehow, with the go-go stock market, I bet the income of well-to-do folks like Mr. Renacci and his cronies has really jumped up. I'm sure they aren't feeling the effects of the economy. But, we don't need to do anything for the average citizens like continue the payroll tax reduction. I'm surprised to see his concern that oil production is only up on private land. I thought that the Republican belief is that's where we should keep it (and other business), so it's out of the government's hands. Yes, let's blame increased health insurance premiums and costs on Obamacare. It's not like those things have been increasing at these rates prior to that legislation. I'm sure that the insurance companies (especially their executives) are just scrapping by (sarcasm intended).

bam

March 8, 2013 7:05AM

Again the facts dispute your argument 4064,but don't let the truth stop you now.Does anyone still wonder why they are called loons?

anonymous_4064

March 8, 2013 5:50AM

Things would be doing a lot better if it weren't for the do nothing Congress like Renacci and the rest of his teaparty clowns.The only pockets you want to put more money in is your own and the rest of rich and you care nothing for the hard working middle class and poor.